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What to Watch

ENERGY
  • The updated IEA monthly oil report (10:00 CET) and OPEC Monthly Oil Market Report (13:30CET) are both due for release today. The reports will provide outlooks for crude oil markets for the coming year amid uncertainty over global supply and demand.
  • The latest EIA weekly gas inventories for the week ending 7 Jul will be released this afternoon at 15:30BST. The expectation is for a build of +50bcf compared to a build of +72bcf last week and the seasonal normal of +52bcf.
  • The updated Insights Global European ARA product inventories will be released today. Gasoil stocks last week dropped further below the five year average to 1.955m mt compared to the normal of 2.3m mt. ARA Gasoline stocks were up at 1.365m mt last week compared to the five year average of 1.11m mt for this time of year.

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